Pursuant to sections 70B and 70D of the Securities Act 1978, the Financial Markets Authority gives the following notice (to which is appended a statement of reasons of the Financial Markets Authority).

The Financial Markets Authority (FMA), after satisfying itself of the matters set out in section 70B(2) of the Securities Act 1978, considers that it is appropriate to amend the principal notice to include PA Consulting in Schedule 1 because—

FMA considers that appropriate criteria for considering applications for the naming of an overseas company as a specified overseas issuer are that the company should—

be incorporated in a jurisdiction specified in Schedule 2 of the principal notice:

have in place arrangements for eligible persons to sell securities acquired by them under the employee share purchase scheme, either through an alternative or internal market or through a repurchase facility, where FMA considers the arrangements provide adequate liquidity for security holders and adequate information to assist their decision making:

PA Consulting is incorporated in the United Kingdom, a jurisdiction named in Schedule 2 of the principal notice:

FMA considers that the arrangements for an internal market for the sale of the shares in PA Consulting provide sufficient liquidity and sufficient information for employee shareholders:

in the circumstances that the exemptions only apply to securities allotted under PA Consulting’s employee share purchase scheme and because PA Consulting meets the criteria above (so is subject to an appropriate regulatory regime and has in place arrangements for an internal market for the sale of shares so providing liquidity for those shares), FMA considers the exemptions will not cause significant detriment to subscribers and that the exemptions are not broader than reasonably necessary to address the matters that gave rise to them.